Addex Shareholders Approve All Board Proposals at 2010 AGM
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Addex Pharmaceuticals / Addex Shareholders Approve All Board Proposals at 2010 AGM processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Geneva, Switzerland, 30 April 2010 - Allosteric modulation company Addex
Pharmaceuticals Ltd (SIX:ADXN) announced that its shareholders approved all the
proposals of the board of directors at its 2010 annual general meeting (AGM)
yesterday.
Shareholders of Addex Pharmaceuticals Ltd approved:
* the re-election of Vincent Mutel, Andrew Galazka and Beat E. Lüthi for a
three year term.
Shareholders of Addex Pharmaceuticals Ltd also approved:
* the 2009 annual report, the 2009 annual financial statements and the 2009
consolidated financial statements.
* the appropriation of the results, namely, that Addex Pharmaceuticals Ltd
would carry forward the accumulated loss of CHF 57,872,740 for the business
year 2009 in full; and release CHF 3,116 from share premium to the treasury
share reserve.
* granting full discharge to the members of the board of directors and the
executive management for their activities during the business year 2009.
* the re-election of PricewaterhouseCoopers SA, Geneva as the auditors for the
2010 business year.
Shareholders of Addex Pharmaceuticals Ltd also approved the following amendments
to the Articles of Association:
* creation and issue of 891 registered bons de jouissance (Genussscheine)
within the meaning of article 657 of the Swiss Code of Obligations to be
granted to employees and/or directors of the Company or Group companies, and
the related changes to the Articles of Association.
* an amendment to the new Article 3c (formerly Article 3b) such that
conditional share capital may be used to cover shares issued pursuant to the
exercise of subscription rights of the holders of bons de jouissance.
* an amendment to Article 29 such that, although there will be an English
translation, the official version of the Articles of Association is in
French.
Addex Pharmaceuticals (www.addexpharma.com
discovers and develops allosteric modulators for human health and is focused on
validated therapeutic targets for diseases of the central nervous system,
metabolic disorders and inflammation. Subject to the completion of Phase I
testing and regulatory approvals, Phase II clinical trials are expected to start
in 2010 in four indications for two lead products: ADX48621, an mGluR5 negative
allosteric modulator (NAM), in dystonia and Parkinson's disease levodopa-induced
dyskinesia (PD-LID); and ADX71149, an mGluR2 positive allosteric modulator
(PAM), in schizophrenia and anxiety. A third product, ADX71943, GABA-B receptor
PAM with potential for chronic pain, is scheduled to enter Phase I testing
around the end of 2010. In addition, Merck & Co., Inc. has licensed rights to
two preclinical products: mGluR4 PAM for Parkinson's disease and mGluR5 PAM for
schizophrenia. Additional preclinical discovery stage programs include: mGluR2
NAM, GLP1R PAM, IL1R1 NAM and TNFR1 NAM. Roche Venture Fund and SR-One,
corporate venture arm of GlaxoSmithKline, are investors in Addex.
Chris Maggos
Investor Relations & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos(at)addexpharma.com
Disclaimer: The foregoing release may contain forward-looking statements that
can be identified by terminology such as "not approvable", "continue",
"believes", "believe", "will", "remained open to exploring", "would", "could",
or similar expressions, or by express or implied discussions regarding Addex
Pharmaceuticals Ltd, its business, the potential approval of its products by
regulatory authorities, or regarding potential future revenues from such
products. Such forward-looking statements reflect the current views of Addex
Pharmaceuticals Ltd regarding future events, future economic performance or
prospects, and, by their very nature, involve inherent risks and uncertainties,
both general and specific, whether known or unknown, and/or any other factor
that may materially differ from the plans, objectives, expectations, estimates
and intentions expressed or implied in such forward-looking statements. Such may
in particular cause actual results with allosteric modulators of mGluR2, mGluR4,
mGluR5, mGluR7 or other therapeutic targets to be materially different from any
future results, performance or achievements expressed or implied by such
statements. There can be no guarantee that allosteric modulators of mGluR2,
mGluR4, mGluR5, mGluR7 will be approved for sale in any market or by any
regulatory authority. Nor can there be any guarantee that allosteric modulators
of mGluR2, mGluR4, mGluR5, mGluR7 or other therapeutic targets will achieve any
particular levels of revenue (if any) in the future. In particular, management's
expectations regarding allosteric modulators of mGluR2, mGluR4, mGluR5, mGluR7
or other therapeutic targets could be affected by, among other things,
unexpected actions by our partners, unexpected regulatory actions or delays or
government regulation generally; unexpected clinical trial results, including
unexpected new clinical data and unexpected additional analysis of existing
clinical data; competition in general; government, industry and general public
pricing pressures; the company's ability to obtain or maintain patent or other
proprietary intellectual property protection. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, believed, estimated
or expected. Addex Pharmaceuticals Ltd is providing the information in this
press release as of this date and does not undertake any obligation to update
any forward-looking statements contained in this press release as a result of
new information, future events or otherwise, except as may be required by
applicable laws.
[HUG#1410237]
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Addex Pharmaceuticals
12, chemin des Aulx Plan-les-Ouates; Geneva Switzerland
ISIN: CH0029850754;
English (PDF): http://hugin.info/138017/R/1410237/362851.pdf
Français (PDF): http://hugin.info/138017/R/1410237/362850.pdf
Deutsch (PDF): http://hugin.info/138017/R/1410237/362849.pdf
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 20011
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contact information:
Town:
Plan-les-Ouates, Geneva
Kategorie:
Business News
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